Chances are, if you're a potential home buyer the thought of raising enough cash for a down payment can be pretty intimidating, but it doesn't have to be. While most lenders recommend you put five, 10, 20 percent down, you can easily reduce that percentage or put nothing down at all, and you still get that annual tax deduction on your home loan's interest, no matter how much you put down. U.S. military veterans can qualify for VA loans. They require no down payment. Another option is an FHA loan which requires only three percent down. 

One added FHA benefit - that down payment can be made entirely with a relative's gift money. And if you're a low to moderate income buyer, you might qualify for one of several loans needing nothing or next to nothing down. If you're interested, talk to your Realtor or lender who's familiar with special programs the government offers some home buyers. And to find out exactly how your down payment size might affect your monthly payment amount, use our Web site's mortgage calculator.